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Netplaytv Profits Down

Thursday September 11,2014 : PRE-TAX PROFITS DOWN IN HALF YEAR RESULTS FOR NETPLAYTV
 
Charles Butler appointed non-executive chairman as Clive Jones steps down.
 
Directorate changes featured in the half year 2014 report posted by UK interactive gambling group NetPlayTV Thursday, which advised that chief executive Charles Butler will take over as non-executive chairman on the retirement of the present incumbent Clive Jones, with commercial director Bjarke Larsen temporarily assuming Butler's responsibilities as CEO.
 
Butler reported a more muted performance from the company, noting the following key performance indicators:
 
* 24 percent increase in new depositing players to 40,585 (H1 2013: 32,618)
 
* 29 percent increase in active depositing players to 62,356 (H1 2013: 48,218)
 
* Mobile and tablet now accounting for 36 percent of total net revenue and 39 percent of new depositing players (H1 2013: 28 percent of total net revenue and 34 percent of new depositing players)
 
* Net revenue of GBP 14.5 million (H1 2013: GBP 14.2 million)
 
* EBITDA down at GBP 2.2 million (H1 2013: GBP 2.7 million)
 
* Adjusted earnings per share down at 0.70 pence per share (H1 2013: 0.87 pence per share)
 
* Cash and cash equivalents, decreased to GBP 14.3 million y-o-y (H1 2013: GBP 14.9 million)
 
* Profit before tax well down at GBP 1.2 million (H1 2013: GBP 2.4 million)
 
* Nevertheless, a 22 percent increase in interim dividend to 0.22 pence per share (H1 2013: 0.18 pence per share)
 
Commenting on the start of the third quarter, Butler said that Q3 average daily net revenue is up 6 percent on the same period last year, and the company expects to produce full year results in line with market expectations.
 
Butler said the first half of 2014 has been one of adjustment for the sector as a whole and notwithstanding this, NetPlayTV had increased levels of both new depositing players and active depositing players.
 
"In addition, we are pleased to announce that due to the continued strong cash position of the Group, the Board is increasing the interim dividend payable to 0.22 pence per share. We have worked hard during the period in preparing the business for the six months ahead, ensuring it is well positioned post the impending legislative changes."

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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